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Upscale

Started by Red Arrow, August 16, 2008, 10:47:09 PM

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Red Arrow

A lot of people seem to be willing to pay a premium for anything labeled "upscale".  I was thinking of starting a business selling the same stuff as everyone else except labeling it "upscale".  An additional markup of about 25% seems reasonable to me.  I'm sure I'll get the usual comments of only paying what someone thinks a product is worth.  I have my flak jacket on... any comments?
 

RecycleMichael

There are a lot of poor shoppers out there. You could be rich

I would price compare, sense what you are trying to do, then say, "Up Yours".
Power is nothing till you use it.

Red Arrow

quote:
Originally posted by RecycleMichael

There are a lot of poor shoppers out there. You could be rich

I would price compare, sense what you are trying to do, then say, "Up Yours".



I would too. I think it was P.T. Barnum that said there was a sucker born every minute.
 

TheArtist

#3
Presentation...

Presentation, and or quality are key ingredients.

I found an old door in a garbage pile once. The bottom half had some interesting details in the woodwork. I sawed that bottom half off, stripped off some of the paint and grime, put a clear coat on it, stuck a chain on the back so it could be hung up. Then presented it that way hung up on a wall like a piece of art at the flea market back in the day when I would set up out there. And voila, a beaten up, partly rotted, paint chipped, half of an old door sold for several hundred dollars. If I had stuck it in a nice shop could have got twice that for it lol.

I could take other stuff people had at that flea market, buy it from them, "present" it in a nice little setting and double the price and sell it. Plus its knowing what your market likes, and whats "in".

Btw, I dont think your 25% mark up is going to be able to get the "upscale" market. Definitely needs to be higher or they wont think its worth it. It took years of people telling me I should raise my prices and people trying to explain to me that the kind of clients I work for wont appreciate it unless I do. That I would actually lose work by being cheap. My market EXPECTS the song and dance show, name dropping, high prices, etc. Its all about entertainment, selling a dream, a feeling, a mood... Help give people their dreams and they will gladly pay handsomely for it. And remember, what you may think of as being expensive, to a lot of people is chump change.  They dont feel as though they are being ripped off or that they are "suckers". If anything it allows them to feel generous.  They can as easily afford to pay thousands on a whim just like you may pay for an ice cream cone. Its no big deal what so ever. As long as they get what they want and you give them the "experience", the dream.

"When you only have two pennies left in the world, buy a loaf of bread with one, and a lily with the other."-Chinese proverb. "Arts a staple. Like bread or wine or a warm coat in winter. Those who think it is a luxury have only a fragment of a mind. Mans spirit grows hungry for art in the same way h

Red Arrow

quote:
Originally posted by TheArtist

Presentation...

Presentation, and or quality are key ingredients.

I found an old door in a garbage pile once. The bottom half had some interesting details in the woodwork. I sawed that bottom half off, stripped off some of the paint and grime, put a clear coat on it, stuck a chain on the back so it could be hung up. Then presented it that way hung up on a wall like a piece of art at the flea market back in the day when I would set up out there. And voila, a beaten up, partly rotted, paint chipped, half of an old door sold for several hundred dollars. If I had stuck it in a nice shop could have got twice that for it lol.

I could take other stuff people had at that flea market, buy it from them, "present" it in a nice little setting and double the price and sell it. Plus its knowing what your market likes, and whats "in".

Btw, I dont think your 25% mark up is going to be able to get the "upscale" market. Definitely needs to be higher or they wont think its worth it. It took years of people telling me I should raise my prices and people trying to explain to me that the kind of clients I work for wont appreciate it unless I do. That I would actually lose work by being cheap. My market EXPECTS the song and dance show, name dropping, high prices, etc. Its all about entertainment, selling a dream, a feeling, a mood... Help give people their dreams and they will gladly pay handsomely for it. And remember, what you may think of as being expensive, to a lot of people is chump change.  They dont feel as though they are being ripped off or that they are "suckers". If anything it allows them to feel generous.  They can as easily afford to pay thousands on a whim just like you may pay for an ice cream cone. Its no big deal what so ever. As long as they get what they want and you give them the "experience", the dream.





Thanks, I knew we could agree about something.
 

rhymnrzn

How about some upscale gas stations.......then we can weed out those servants who ride like kings, and the kings who walk on foot as servants will know where not to go.

TheArtist

quote:
Originally posted by Red Arrow

quote:
Originally posted by TheArtist

Presentation...

Presentation, and or quality are key ingredients.

I found an old door in a garbage pile once. The bottom half had some interesting details in the woodwork. I sawed that bottom half off, stripped off some of the paint and grime, put a clear coat on it, stuck a chain on the back so it could be hung up. Then presented it that way hung up on a wall like a piece of art at the flea market back in the day when I would set up out there. And voila, a beaten up, partly rotted, paint chipped, half of an old door sold for several hundred dollars. If I had stuck it in a nice shop could have got twice that for it lol.

I could take other stuff people had at that flea market, buy it from them, "present" it in a nice little setting and double the price and sell it. Plus its knowing what your market likes, and whats "in".

Btw, I dont think your 25% mark up is going to be able to get the "upscale" market. Definitely needs to be higher or they wont think its worth it. It took years of people telling me I should raise my prices and people trying to explain to me that the kind of clients I work for wont appreciate it unless I do. That I would actually lose work by being cheap. My market EXPECTS the song and dance show, name dropping, high prices, etc. Its all about entertainment, selling a dream, a feeling, a mood... Help give people their dreams and they will gladly pay handsomely for it. And remember, what you may think of as being expensive, to a lot of people is chump change.  They dont feel as though they are being ripped off or that they are "suckers". If anything it allows them to feel generous.  They can as easily afford to pay thousands on a whim just like you may pay for an ice cream cone. Its no big deal what so ever. As long as they get what they want and you give them the "experience", the dream.





Thanks, I knew we could agree about something.




Well see, hows it feel to finally be right about something? [:P]

"When you only have two pennies left in the world, buy a loaf of bread with one, and a lily with the other."-Chinese proverb. "Arts a staple. Like bread or wine or a warm coat in winter. Those who think it is a luxury have only a fragment of a mind. Mans spirit grows hungry for art in the same way h

we vs us

quote:
Originally posted by Red Arrow

quote:
Originally posted by RecycleMichael

There are a lot of poor shoppers out there. You could be rich

I would price compare, sense what you are trying to do, then say, "Up Yours".



I would too. I think it was P.T. Barnum that said there was a sucker born every minute.



Another good one: If you look around the table and you can't spot the sucker, the sucker is you.

TheArtist

quote:
Originally posted by we vs us

quote:
Originally posted by Red Arrow

quote:
Originally posted by RecycleMichael

There are a lot of poor shoppers out there. You could be rich

I would price compare, sense what you are trying to do, then say, "Up Yours".



I would too. I think it was P.T. Barnum that said there was a sucker born every minute.



Another good one: If you look around the table and you can't spot the sucker, the sucker is you.



Thats one world view. Another could be, " dont sweat the small stuff, be generous and giving, and win win".



"When you only have two pennies left in the world, buy a loaf of bread with one, and a lily with the other."-Chinese proverb. "Arts a staple. Like bread or wine or a warm coat in winter. Those who think it is a luxury have only a fragment of a mind. Mans spirit grows hungry for art in the same way h

Steve

quote:
Originally posted by Red Arrow

A lot of people seem to be willing to pay a premium for anything labeled "upscale".  I was thinking of starting a business selling the same stuff as everyone else except labeling it "upscale".  An additional markup of about 25% seems reasonable to me.  I'm sure I'll get the usual comments of only paying what someone thinks a product is worth.  I have my flak jacket on... any comments?



You're right, but why 25%?  Mark it up 100% and make even more.

If the U.S. public is stupid enough to waste millions on buying bottled water every year, not to mention the petroleum waste in making all those plastic bottles, they will buy anything if the marketing is right.

Red Arrow

quote:
Originally posted by Steve

If the U.S. public is stupid enough to waste millions on buying bottled water every year, not to mention the petroleum waste in making all those plastic bottles, they will buy anything if the marketing is right.



We are the country that bought pet rocks.
 

Red Arrow

quote:
Originally posted by TheArtist


Well see, hows it feel to finally be right about something? [:P]





I've been correct before, even if you don't agree. [8D]
 

Steve

quote:
Originally posted by Red Arrow

quote:
Originally posted by Steve

If the U.S. public is stupid enough to waste millions on buying bottled water every year, not to mention the petroleum waste in making all those plastic bottles, they will buy anything if the marketing is right.



We are the country that bought pet rocks.



Hey, I actually still have one of those mid-1970's pet rocks!  It was given to me as a gift when I was in high school.  (really a gift, no lie.) It is in the original paper carrier case, with packing excelsior and "care and feeding" instruction booklet!  I wonder what I could get for it on EBAY?